Sebi rejects NSE’s proposal to extend stock market trading hours.
NSE CEO Ashishkumar Chauhan announces SEBI's rejection of extended trading hours proposal due to broker community disagreement.
During an analyst call on Monday, Ashishkumar Chauhan, Managing Director and CEO of the National Stock Exchange (NSE), disclosed that the Securities and Exchange Board of India (SEBI) has turned down the exchange’s request to extend trading hours. Chauhan explained that SEBI rejected the proposal due to a lack of consensus within the broker community. Consequently, plans for an extended trading timeframe are currently on hold, as stated by Chauhan.
In February, the Association of National Exchanges Members of India (ANMI), representing trading members from major exchanges, tentatively agreed to prolong trading hours for index derivatives, contingent upon resolving operational challenges. However, the Bombay Stock Exchange Brokers’ Forum (BBF) expressed significant reservations about the proposal.
SEBI had previously noted conflicting opinions within the brokerage community regarding this matter, emphasizing the importance of downtime and maintenance between trading sessions.
The NSE's proposal initially aimed to extend trading hours for index Futures and Options (F&O) from 6 p.m. to 9 p.m., with subsequent extensions to 11:30 p.m.